Market cap increases by Rs 1 trillion
Mumbai: The market capitalisation of actively traded stocks on the Bombay Stock Exchange has increased by more than Rs 1,15,700 crore since September 21 when it hit an eight-year low of 2600.12.

The information, communication and entertainment stocks led the market rally, accounting for 41 per cent of the increase. The market cap of ICE stocks increased 64.8 per cent against the 27.8 per cent increase in the Sensex. As many as 138 ICE stocks shot up by over 100 per cent in just two months.

Among frontline stocks, Himachal Futuristic gained the highest at 250 per cent in two months. NIIT appreciated by 188 per cent, followed by SSI (140 per cent), Wipro (up 64.8 per cent), Infosys Technologies (up 76.8 per cent) and Digital Global (98.1 per cent).
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Private financing behind select IT stocks
Kolkata: Sebi has traced some Kolkata and Mumbai-based brokers who were actively involved in the financing of some technology stocks resulting in unusual hike in their prices. The operators are reported to be lending against these shares at a margin of 25 per cent and at an interest of 24 per cent.

Sebi is reported to have found links between the volume and price surge.

Stock exchanges have been asked to monitor and report to the regulator on a daily basis.

A select group of clients whose names recur in suspected deals are likely face a probe. The sudden price and volume spurt in a select band of technology shares had raised alarm at the Sebi and the stock exchanges.
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Sebi issues notice to Ketan
Mumbai: The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to Ketan Parekh for alleged violation of takeover norms in the preferential allotment made by Aftek Infosys in 1999. The Sebi show-cause notice has been issued to Classic Credit, Pather Investrade, Mividha Investments and JDP Shares and Finance for acquiring more than 15 per cent of the share capital of Aftek Infosys.

This, according to the Sebi note, is in violation of Section 15H of the Sebi Act, 1992 and Regulation 10 of Sebi's Substantial Acquisition of Shares and Takeover Regulation, 1997.

The Sebi said in the show-cause notice that the Ketan Parekh group cornered a substantial quantity of shares of Aftek Infosys, especially during January-December, 1999.

These acquisitions made by the Ketan Parekh group exceeded the threshold limit of 15 per cent stipulated under the takeover regulations.
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